Entrepreneurial Support Centre among projects getting repayable and non-repayable investments

PORT UNION, NL —Four businesses on the Bonavista Peninsula will benefit from federal and provincial funding that includes money to establish an Entrepreneurial Support Centre in the region.

The announcement was held at the Seaport Inn in Port Union on Wednesday, Jan. 24.

A total of over $1.3 million will be committed to four projects — with $825,000 from the Atlantic Canada Opportunities Agency (ACOA) announced by Bonavista-Burin-Trinity MP Churence Rogers and $540,000 from the Department of Tourism, Culture, Industry and Innovation, announced by minister Christopher Mitchelmore.

The four businesses receiving support are the Bonavista-Trinity Regional Chamber of Commerce (BTRCC), the Seaport Inn, the Newfoundland Salt Company Ltd. and Sea of Whales Adventures Ltd.

In a release after the event, Rogers describes the importance of the federal Atlantic Growth Strategy.

“Establishing an Entrepreneurial Support Centre for this region and supporting the expansion and growth of existing companies in Trinity, Port Union and the Town of Bonavista creates new jobs, helps grow the economy and benefits everyone on the Bonavista Peninsula,” Rogers stated.

“The funding announced today will support existing and future entrepreneurs who will all contribute to the area’s continued growth and prosperity in the coming years,” added Bonavista MHA Neil King.

In more detail, this announcement will mean:

• BTRCC will receive $342,375 from ACOA and $68,470 from TCII.

The money will be used to establish an Entrepreneurial Support Centre, including assessing a building for a permanent home for the centre, promoting business start-up activity, and implementing Tourism Atlantic’s Strategic Tourism for Areas and Region (STAR) program.

• The Seaport Inn will receive a repayable investment of $325,000 from ACOA, and $325,000 from TCII for Safe Haven Enterprises to expand and upgrade the Inn.

• Newfoundland Salt Company will get a repayable investment of $82,000 from ACOA, and $63,000 from TCII to establish their sea salt production facility in Bonavista.

• Sea of Whales gets a repayable investment from ACOA of $76,500 and $83,500 from TCII to purchase and renovate a building in Trinity.